VANDERLIP MUM ON NAME OF ANOTHER CABINET OFFICER WHO SHOULD RESIGN
Washington, D.C. (JFK+50) On March 29, 1924, the Associated Press reports that retired banker Frank A. Vanderlip*, whose staff investigated the activities of former Attorney General Harry M. Daugherty, was asked if he thinks other cabinet officers should resign.
Mr. Vanderlip responded,
"That will develop later. If I said 'yes' you would want to know his name, and if I told you that, it would shock you."
He added that newspaper coverage has included much evidence, but "little real interpretation."
*Frank Arthur Vanderlip, Sr. (1864-1937) was born in Aurora, Illinois & became Assistant Secretary of Treasury, 1897-1901 & president of National City Bank of NY 1909-1919. FAV helped establish the Federal Reserve System.
JFK+50 NOTE
Vanderlip claimed that his staff conducting the investigation of Mr. Daugherty had been "shadowed" by detectives. Because FAV spoke in defense of the public's right to know in his testimony, he was forced to resign from the board of directors of forty companies.
